If you file or pay your taxes late, you may be subject to failure to file, failure to pay, and failure to pay estimated tax penalties. If payroll taxes are involved, then there are numerous other penalties that can pile up, including the Trust Fund Recovery Penalty, where you, as the owner or responsible party for the business becomes personally liable for a large portion of the payroll taxes.
Our Orlando tax lawyers can help you determine if you are eligible for an abatement or reduction of these penalties based on your current situation or your situation at the time the taxes or filings were due. This could save you thousands of dollars.
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